TD Cowen Issues Pessimistic Forecast for Schlumberger (NYSE:SLB) Stock Price

Schlumberger (NYSE:SLB) had its price objective reduced by equities research analysts at TD Cowen from $65.00 to $53.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective points to a potential upside of 37.13% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Barclays dropped their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Evercore ISI decreased their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.58.

Schlumberger Trading Down 1.8 %

Shares of SLB traded down $0.72 during mid-day trading on Wednesday, reaching $38.65. 6,773,589 shares of the company were exchanged, compared to its average volume of 9,201,872. The stock has a market capitalization of $54.58 billion, a PE ratio of 12.43, a PEG ratio of 1.42 and a beta of 1.52. The business has a 50 day simple moving average of $41.05 and a two-hundred day simple moving average of $43.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger has a 52 week low of $36.52 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. On average, analysts predict that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. ORG Partners LLC lifted its holdings in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new stake in Schlumberger during the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new position in shares of Schlumberger in the third quarter worth $37,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new position in Schlumberger during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.